Ripple CEO Brad Garlinghouse Predicts Stablecoin Market Could Reach $2 Trillion Soon

Highlights:

• Garlinghouse sees the stablecoin market jumping from $250 billion to $2 trillion soon. 
• Ripple’s RLUSD stablecoin, backed by BNY Mellon, has already reached $500 million.
• Experts say the stablecoin market may grow 10x as new regulations boost adoption.

Ripple CEO Brad Garlinghouse said the stablecoin market is set to grow fast, possibly jumping from $250 billion today to $2 trillion soon. In an interview on CNBC’s “Squawk Box,” he called this growth “huge” and said it’s being driven by big investors and new rules being introduced.

Garlinghouse also said Ripple was late to launch its own stablecoin because it had been using other companies’ stablecoins for its payment services. Ripple’s USD-backed stablecoin, RLUSD, positions the company to compete, supported by its institutional ties and regulatory focus. “We can participate in this [stablecoin] market given our institutional background and regulatory compliance,” he said.

As per Garlinghouse, the company is in a good position to grow and succeed as the stablecoin market becomes much bigger in the coming years. He said many expect the stablecoin market to reach $1 to $2 trillion in the coming years and said Ripple is well-positioned to take advantage of this potential growth. He made these comments while announcing that BNY Mellon will be the company in charge of safely holding Ripple’s new stablecoin, which is tied to the US dollar. Ripple launched its RLUSD at the end of 2024. Since then, its value has grown quickly, reaching $500 million on Wednesday.

Ripple Strengthens Ties with Traditional Finance

Ripple is also getting closer to traditional finance. Earlier this month, the company submitted applications for a banking license with the U.S. OCC and a Federal Reserve Master Account. According to Garlinghouse, this move aims to bridge the gap between traditional banking and decentralized finance (DeFi). This week, Ripple said its stablecoin got a big boost after being added to Transak, a well-known crypto payment platform.

Stablecoin Market Trends and Future Outlook

Recently, JPMorgan projected the stablecoin market may hit $500 billion by 2028, far below the $1–2 trillion forecasts from others. However, the bank noted that upcoming regulations, like the GENIUS Act, could drive a 10x increase in stablecoin supply over the next few years.

Last month, Treasury Secretary Scott Bessent told the Senate that dollar-based stablecoins might grow to $2 trillion within three years. He emphasized the importance of keeping the U.S. dollar strong globally and said clear regulations will help bring stablecoins into the financial system. These stablecoins, he added, must be backed entirely by U.S. Treasury bills and short-term government securities.

🇺🇸 US Treasury Secretary: "Stablecoins could reach $2 trillion by 2028"

During a hearing before the US Senate, Treasury Secretary Scott Bessent predicted that the market for dollar-backed stablecoins could surpass $2 trillion within three years.

The GENIUS Act, the stablecoin… pic.twitter.com/iLWYnYN3gU

— Atlas21 (@Atlas21_news) June 12, 2025

Circle CEO Jeremy Allaire also said stablecoins haven’t yet sparked developer interest like iPhones did. But he believes a major shift is coming soon, when developers will recognize the real value of digital dollars, similar to the early mobile app boom.

Stablecoins have become a rare crypto success, drawing interest from both companies and regulators. Recent reports revealed that Amazon, Walmart, and other major firms are exploring stablecoin payments. This development briefly pushed stablecoin transaction volumes ahead of Visa’s in 2024.